February 24, 2010
WASHINGTON HOTEL FETCHES $8.4 MILLION
Washington, D.C.'s District Hotel has traded for $8.4 million. WASHINGTON, D.C. — Washington-based Braxton Hotel & Condominium has sold the 58-room District Hotel to Cherry Blossom Hospitality for $8.4 million. The seller had converted the property, which is located at 1440 Rhode Island Ave. NW in Washington, from a 1920s-era, 86-room boarding house to a boutique hotel. Cherry Blossom Hospitality plans to add four stories to the original property and build an additional eight-story building. Donohoe Corfac International brokered the sale.
SOUTHERN COMMERCIAL BROKERS TWO INDUSTRIAL LEASES IN FLORIDA
ORLANDO, FLA. — Tom McFadden and William Bradford of Southern Commercial Real Estate Advisors have brokered two industrial leases in Florida. McFadden and Bradford represented the landlord, RREEF, in its 18,975-square-foot lease to Iberia Foods Corp. The tenant will occupy the space, which is located at 7580 Exchange Drive in Orlando, for the next 7 years. The Southern Commercial team also represented McDonald Ventures XXVI in its 6,100-square-foot lease to Atlantic Fasteners and Supply Co. The property is located at 3830 Enterprise Way in Sanford. Atlantic Fasteners will lease the space for the next 8 years.
BRETT HUNSAKER NAMED MANAGING DIRECTOR AT ATLANTA GRUBB & ELLIS
Brett Hunsaker ATLANTA — Grubb & Ellis has promoted Brett Hunsaker to executive vice president and managing director in the firm's Atlanta office. Hunsaker, a past president of the Atlanta Commercial Board of Realtors, joined Grubb & Ellis in 2008 as executive vice president. With the promotion, he is now in charge of the company's Atlanta-area operations.